Chill Brands Group, the international consumer packaged goods company, announces its interim results for the six months ending 30 September 2023 (the “Period”), which can be viewed below and also on the Company’s website at www.chillbrandsgroup.com.
Chill Brands has recently inked agreements to distribute its nicotine-free vape products in leading retail outlets, including WH Smith, Shell, and BP stores, signalling a significant uptick in anticipated revenue.
“In the period following September 2023, we have successfully introduced Chill ZERO products into numerous independent stores and secured prominent placements with major retail chains in both the United States and the United Kingdom,” stated Callum Sommerton, the CEO, during the company’s mid-year financial report.
“As we welcome the new year, we are poised to have our products available in over 2,365 committed retail locations, sustaining our multi-channel growth and receiving substantial purchase orders that will translate into substantial revenue.”
For the first half of the year, Chill Brands recorded revenue of £83,392, representing a four-fold increase compared to the £19,610 reported in early 2022 and surpassing the full-year figure of £82,840. Concurrently, the operating loss for this period stood at £1.5 million, down from £2.2 million at the midpoint of 2022.
“As the Chill brand continues to gain recognition and establish a solid presence in the market, we anticipate a ripple effect that will drive increased sales and open doors for expansion into new retail channels,” the company added in an official statement.
Callum Sommerton, Chief Executive Officer of Chill Brands, commented: “The groundwork laid during the first half of this financial year prepared the Company for significant growth. In the months since September 2023, we have sold Chill ZERO products into hundreds of independent stores and secured listings with major retail chains in both the US and UK.
We will see in the New Year with more than 2,365 committed retail stores, sustained multi-channel growth and substantial purchase orders that will result in material income for the Company as they are fulfilled during Q1.
2024 will be an exciting time for Chill Brands as we further extend our international distribution network and expand our offering both in terms of our own products and those sold by third-party brands on the Chill.com website.”
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is concerned with the development, marketing and distribution of wellness and recreational products containing natural, functional ingredients. The Company’s proprietary product range is distributed by some of the most recognisable convenience retail outlets in the US and includes nicotine-free disposable vapour products that cater to the rapidly growing market for tobacco alternatives. Chill Brands also operates the chill.com e-commerce website, on which it is building a marketplace of products from third-party brands.
Publication on website
A copy of this announcement is also available on the Group’s website at http://www.chillbrandsgroup.com
